Fourth Company Receives a Note from a Customer for a $5,000

question 12

Multiple Choice

Fourth Company receives a note from a customer for a $5,000 sale.On the date of sale,what journal entry did Fourth Company prepare?

• A)debit Accounts Receivable for $5,000 and credit Sales Revenue for $5,000
• B)debit Notes Receivable for $5,000 and credit Cash for $5,000
• C)debit Notes Receivable for $5,000 and credit Sales Revenue for $5,000
• D)debit Cash for $5,000 and credit Notes Receivable for $5,000

---

Definitions:

Confront

To face or deal with a challenge or obstacle directly, often in a way that involves addressing conflicts or difficult issues.

Forming Stage

The initial phase in group development characterized by members' orientation, getting acquainted, and exploring boundaries.

First Step

The initial action or decision undertaken to start a process or achieve an objective.

Group Development

The process by which a group forms, progresses, and changes over time, typically moving through stages such as forming, storming, norming, performing, and adjourning.